Electrical contractors understand the inherent risk in providing connections that allow currents to flow and bring many things to ‘life.’ The unique risk facing their business operations are probably a bit more obscure. Whether it be damage to important client related documents or electrocutions, business insurance is critical to electricians ensuring their respective businesses are properly covered. Learn how to use electricians insurance to protect your operations, by reducing the common risks associated with electrical contractor firms such as yours, below:
Business Owners Policy (BOP)
A virtual necessity for all business owners, and a great building block to providing a suite of coverage, the BOP combines protection from all major property, liability and business income risks in one package. In addition to providing a cost effective way to manage your firm’s inherent risks, a BOP also allots the opportunity to customize it through adding coverage tailored to accounting firms specifically.
Optional coverage associated with the accounting industry that can be added to your package:
Most states require this coverage and often times have fines for failure to purchase it. Workers’ Comp essentially provides wage replacement and medical benefits to employees injured in the course of performing their duties.
Given everyone that owns a vehicle has personal auto insurance, many businesses feel this coverage is not necessary. Make sure you take the time to reconsider. Commercial Auto policies are beneficial for accounting firms due to the amount of traveling during normal operations. Whether it be running general errands or even transferring pertinent financial information to and from clients, commercial auto insurance will assure that you and your employees are properly covered.